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| Author: | O'Brien, J. C. |
| Title: | Schmoller's Political Economy: Self-interest versus the Higher Law |
| Journal: | International Journal of Social Economics
1992 : VOL. 19:10-11-12. p. 126-149 |
| Index terms: | POLITICAL ECONOMY HISTORY OF ECONOMIC THOUGHT SOCIAL RESEARCH WEALTH |
| Language: | eng |
| Abstract: | Schmoller reserves his admiration for those entrepreneurs who succeeded the acquisiton of wealth but whose primary goal was the promotion of the public interest. Such individuals as List, Steiner, Geibel, Abbe and von Mevissen are of this sort. Schmoller is critical of the natural economy of Adam Smith where each individual is activated by his own self-interest. Schmoller's historical approach to the political economy, one shared by some in the Western world, is to be contrasted with the view that the best type of social order permits the individual to pursue his self-interest and that such a pursuit is in keeping with the social interest. |
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